Boat Insurance

Offer first-class coverage for boats up to 64 feet in length, 70 mph and up to $1 million in value.

Both avid and occasional boaters who understand that a boat is an investment look for coverage that does more than just provide liability. American Modern’s program ticks all the boxes and then some. In some states, we offer a special program just for yachts. A Jet Ski® or Wave Runner® may qualify for protection under our personal watercraft program.

Boat types we accept

  • Bass/walleye
  • Ski boat
  • Cruiser
  • Pontoon
  • Sport fisher
  • Mid-performance
  • Sail boat
  • Houseboat
  • Runabout
  • High-performance
  • Trawler
  • Hovercraft

Compare our boat policy with a homeowners endorsement

American Modern’s boat policyHomeowners endorsement
  • Multiple settlement options for a total loss including replacement cost
  • Endorsements customize the coverage, plus liability protection
  • Comprehensive list of causes of loss
  • Coverage for the occasional fishing tournament, regatta, ski contest, pollution spill, wreckage removal, plus much more
  • Wide navigation
  • Capped value
  • No customization
  • Limited list of perils
  • Few, if any, extras
  • Coverage may not extend beyond the property

Packaged options round out the coverage

Advantage PlusYacht PlusPro Angler
Loss of fishing gear on personal effects$10,000$10,000$10,000
Emergency assistance reimbursement$1,500 per event
$3,00 term max.
$2,500 per event
$5,000 term max.
$1,500 per event
$3,000 term max.
Search and rescue reimbursement$10,000
Travel loss reimbursement$1,000 per day
$10,000 term max.
Plus lodging and transportation
Tournament fee reimbursement$500 per event
$1,500 term max.

Boat Policy Highlights

CoverageFull coverage – Liability, plus collision damage and comprehensive losses to the boat. With full coverage, options can be added to the policy.
Liability only – Physical damage coverage to the boat is not part of the policy.
Loss settlementAgreed value – The policy specifies a specific value for the vessel that will be paid in the event of a total loss or theft.
Replacement cost – The lost craft will be replaced with the same or comparable model. Boats up to three years old are eligible for this option.
Market value – Total losses are settled for the market value (actual cash value), which includes a deduction for depreciation. For a partial loss we pay the repair cost, minus depreciation for damaged parts.
DiscountsPrior insurance – 15% if no lapse in coverage, 10% if less than 30 day lapse
Loss free renewal – 5% on first renewal, 10% on successive years.
Experience – We will adjust the rate to reflect your boating experience.
Diesel fuel engine – 5%
Payment OptionsEZPay – Pay through automated monthly installments via credit card or bank account.
4-Pay – Pay a quarter up-fronte with an installment due every 60 days.
Full Pay – Pay when coverage begins or on renewal.
Included coverageConsequential damage – Damage or loss claims are not automatically denied because the originating cause is not insurable, such as a bilge pump failure.
Damage from under/uninsured watercraft – Covered up to an amount equal to the liability limit.
Fishing gear/personal effects – Coverage starts at $5,000 and can be increased to $10,000.
Emergency assistance and towing – Reimbursed up to $350/occurrence ($1,500/term) and can be increased.
Haul out coverage
Accidental spill pollution
Liability extension –
Your policy’s liability provisions apply when someone else’s watercraft is rented or used.
Medical payments – Policy includes $1,000 of coverage which can be increased up to $25,000.
Optional CoverageAdvantage Plus, Yacht Plus or Pro Angler endorsements
Diminishing deductible
Trailer or boat lift –
Add physical damage coverage for a trailer designed to transport the insured boat or the lift to take it out of the water.
Watersport liability – Add protection beyond general liability. Required for ski boats.
NavigationAmerican Modern covers the boat in all waters of the U.S. and Canada, plus Mexico’s Pacific coast (north of Rio Santo Tomas, Baja), the international shared lakes between Mexico and Texas, and optional navigation to the Bahamas.